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Tuesday, 12 January 2016

Paris Attacks Cost Air France-KLM Heavily

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Air France-KLM has said lower bookings after the Paris terror attacks led to a €70m ($76m; £52m) drop in revenues in December.

However, bookings picked up towards the end of the month, suggesting a "progressive recovery", it said.

The airline suffered a €50m fall in revenues in November after the attacks, in which 130 people were killed.

In December, North America and Asia flights were particularly affected, the airline said.

In its monthly traffic update, the company said: "The negative impact of the Paris attacks on December revenues is estimated to be around €70m, with significant easing during the last two weeks.

"Booking trends in December were in line with a progressive recovery."

Passenger numbers on Air France, KLM, and HOP! dropped 1.1% to 6.2 million.

But once Dutch budget airline Transavia was included, total passenger numbers were "stable" at 6.7 million.

Air France-KLM shares rose 2% in early trading to €7.73.

Last month, another airline, Monarch, said passengers had booked trips later in the immediate aftermath of the attacks in Paris and Sharm el-Sheikh, but that bookings had later recovered.

Scandinavian carrier SAS also said it had seen a drop in travel to Paris straight after the 13 November attacks.

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